President Trump is now using tariffs as a negotiation tactic. Trump tweeted Monday morning saying "tariffs on steel and aluminum will only come off if new and fair NAFTA agreement is signed." Later on Monday Trump told reporters the White House is not backing down. CFRA Equity Research Analyst Matthew Miller explains why his outlook remains positive on the steel sub industry.
"Ultimately Canada and Mexico--the US is an extremely important trading partner for all three groups. We think that in order for steel tariffs to be effective either steel tariffs need to be applied all throughout the NAFTA region to prevent circumvention or it has to be applied across the board," said Miller.
Miller says he is not surprised Trump is leaning towards stiff tariffs, given his promise to protect the steel industry.
President Donald Trump says he opposes additional funding for the U.S. Postal Service, acknowledging that his position would starve the agency of money Democrats say it needs to process an anticipated surge in mail-in ballots during the coronavirus pandemic.
Paige Hill, surrogate director of communications for the Biden campaign, says the vice presidential shortlist includes a number of highly qualified women.
Joe Biden introduced his newly chosen running mate Kamala Harris on Wednesday, with the former vice president and California senator appearing for the first time together as the Democratic presidential ticket.
Joe Biden named California Sen. Kamala Harris as his running mate on Tuesday.
New Zealand's prime minister says authorities have found four cases of the coronavirus in one Auckland household from an unknown source, the first cases of local transmission in the country in 102 days.
Lebanon’s Prime Minister Hassan Diab says he is stepping down in the wake of the catastrophic explosion in Beirut last week that triggered public fury and mass protests.
U.S. employers advertised more jobs in June compared with May, but overall hiring fell, painting a mixed picture of the job market.
Chicago’s police commissioner says more than 100 people were arrested following a night of looting and unrest that left 13 officers injured and caused damage in the city’s upscale Magnificent Mile shopping district and other parts of the city.
Two studies released this week show another round of layoffs is already underway as evidence emerges that many workers are losing their jobs for the second time since shutdown measures took hold in March.
Hong Kong police have arrested media tycoon Jimmy Lai and raided the publisher’s headquarters in the highest-profile use yet of the new security law Beijing imposed on the city in June.
